Jean-Pierre CHEVALLIER, business économiste

<br /> B2 fait encore des siennes en allant raconter des choses pour casser le moral, et certainement garder les taux bas<br /> <br /> http://www.lefigaro.fr/flash-actu/2010/06/03/97001-20100603FILWWW00652-chomageusa-bernanke-inquiet.php<br /> <br /> <br />

<br /> Qu'en est-il de l'Irlande, qui était pourtant citée en exemple de "miracle libéral" il n'y a pas si longtemps ?<br /> Elle avait des finances publiques très saines avant la "crise" (l'Espagne s'en sortait pas mal aussi d'ailleurs), et une des plus fortes croissances de la zone euro...<br /> Que s'est-il passé pour qu'elle se retrouve aussi rapidement au fond du gouffre ?<br /> <br /> <br />

<br /> Quand B2 va t il enfin monter ses taux ?<br /> <br /> <br />

<br /> June 3 (Bloomberg) -- Overnight deposits with the European Central Bank rose to a record yesterday as the sovereign debt crisis made banks wary of lending to each other.<br /> <br /> Banks lodged 320.4 billion euros ($394 billion) in the ECBs overnight deposit facility at 0.25 percent, compared with 316.4 billion euros the previous day, the Frankfurt-based central bank said in<br /> a market notice today. Thats the most since the start of the euro currency in 1999. Deposits have exceeded 300 billion euros for the past five days.<br /> <br /> Banks are parking cash with the ECB amid investor concern that a 750 billion-euro European rescue package may not be enough to stop the crisis from spreading and spilling into the banking industry.<br /> The ECB said on May 31 that banks will have to write off more loans this year than in 2009 and their ability to sell bonds may be hampered as governments seek to finance fiscal deficits.<br /> <br /> The banking crisis is back, said Norbert Aul, an interest-rate strategist at Commerzbank AG in London. The news flow over the past few weeks has spooked banks and since nobody knows how exposed<br /> individual financial institutions are, its deemed safer to park cash with the ECB rather than lend it on.<br /> <br /> Tensions<br /> <br /> Money market tensions are resurfacing even after the ECB started buying government bonds and said it would offer banks as much cash as they want for up to six months. The measures accompanied the<br /> European Union rescue package, agreed on May 10, to counter the worsening debt crisis and promises by Greece, Spain and Portugal to rein in their budget gaps.<br /> <br /> Money market rates are rising, with the euro interbank offered rate, or Euribor, for three-month loans yesterday increasing to 0.704 percent, the highest this year. Banks borrowed 9 million euros<br /> from the ECB at the marginal rate of 1.75 percent, the central bank said today.<br /> <br /> The efforts by the EU and the ECB failed to allay investor concerns. Fitch Ratings lowered the credit grade of Spain, the euro areas fourth largest economy, to AA+ from AAA on May 28. Standard<br /> & Poors in April cut Greeces debt to junk and lowered the ratings on Portugal and Spain.<br /> <br /> Portuguese 10-year government bonds fell today, increasing the premium investors demand to hold the debt instead of benchmark German bunds.<br /> <br /> The yield on the Portuguese security rose five basis points to 5.08 percent as of 8:56 a.m. in London. The spread over bunds widened six basis points to 231 basis points, according to Bloomberg<br /> generic data. Spains yield over Germany was unchanged at 177 basis points.<br /> <br /> <br />